Curly Announces 15 Billion KRW Share Buyback... "Unrelated to IPO"

Stabilizing Over-the-Counter Share Price and Enhancing Shareholder Value
"No Impact on Cash Flow or Management Strategy"
"Unrelated to IPO"

E-commerce platform Kurly announced on the 27th that it will proceed with a public repurchase of its own shares worth 15 billion KRW.

At the board meeting held on the same day, Kurly resolved the agenda regarding the acquisition of treasury shares. The number of shares planned to be repurchased is up to 1 million common shares, which is about 2.4% of the total issued shares. The purchase price was set at 15,000 KRW per share, referencing the recent over-the-counter market transaction price. The total repurchase amount is approximately 15 billion KRW.

Shareholders holding Kurly shares can apply for stock transfer from May 11 to May 7. NH Investment & Securities will act as the entrusted broker for the application and sales contract execution.

The company explained that this treasury stock repurchase is being conducted to stabilize the stock price in the over-the-counter market and to enhance shareholder value. Kim Jong-hoon, Vice President and Chief Financial Officer (CFO) of Kurly, stated, "Having achieved adjusted EBITDA profitability last year, we decided to repurchase treasury shares to reward shareholders who trusted and invested in the company and to demonstrate confidence in Kurly's corporate value." He added, "The treasury stock repurchase will not affect cash flow or management strategy, and as of the end of last year, cash equivalents stood at 223.7 billion KRW, providing sufficient capacity for future growth investments."

Vice President Kim continued, "This year, we are focusing on intensive investments aimed at expanding sales growth rates, supported by improved profitability. We are achieving growth levels exceeding the market, and as we celebrate the 10th anniversary of our service launch, it will be a year of greater leaps forward," expressing confidence.

The company stated that this treasury stock repurchase is not directly related to the initial public offering (IPO). Kurly plans to resume the IPO when the timing allows for a proper valuation of the company's worth.